Atlas Copco AB ATLKY

IndustrialsMachinery, Tools, Heavy Vehicles, Trains & ShipsSweden

Last close 18.88 USD on Nov 2, 2026, +8.3% year to date

Quant rating

Quant rating C Rank 169 of 418 in Industrials

Growth A 60 of 418
Valuation C 220 of 418
Quality B 122 of 418
Revisions C 261 of 418
Momentum C 230 of 418

Wall Street consensus Strong Buy (1.00)Average target 25.50 USD +35.1%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 89.9B
Enterprise value: 91.5B
52-week range: 15.69 – 22.42
3-year range: 13.36 – 22.42
Dividend yield: 2.82%
Beta (5 years): 1.41
Shares outstanding: 4,918M
Next earnings: Jan 28, 2027

About the company

Atlas Copco AB is a Sweden-based industrial company. The Company offers customers compressors, air treatment systems, vacuum solutions, industrial power tools and assembly systems, and power and flow solutions. The Company divides its activities into four segments: Compressor Technique, Vacuum Technique, Industrial Technique and Power Technique. Compressor Technique provides industrial compressors, vacuum solutions, gas and process compressors and expanders, air and gas treatment equipment and air management systems. Vacuum Technique provides vacuum products, exhaust management systems, valves and related products. Industrial Technique provides , industrial power tools and assembly solutions, including tightening, bolting, riveting, adhesive dispensing, assurance products, material removal, software and service. The Power Technique business area provides air, power and flow solutions through products such as mobile compressors, pumps, light towers and generators.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	18,300	15,990	17,151	13,579	12,270	–
Revenue growth	14.4%	−6.8%	26.3%	10.7%	1.0%	8.5%
EPS (basic, normalized)	0.57	0.59	0.56	0.47	–	–
EPS growth	−3.2%	4.4%	18.7%	–	–	–
Gross margin	42.9%	42.8%	43.5%	42.0%	42.0%	42.6%
Net margin	15.7%	16.8%	16.2%	16.6%	16.3%	16.3%
ROE	23.6%	29.0%	32.7%	31.8%	30.0%	29.4%

Balance sheet, last quarter
Cash & short-term investments (mil)	2,510
Current ratio	1.44x
Long-term debt (mil)	3,169
Net debt (mil)	1,261
Total equity (mil)	11,866
Net debt / equity	0.11x
Net debt / EBITDA	0.28x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	18,300	+14.4%	5.0x	4,463	+5.8%	20.5x	0.57	−3.2%	33.1x
2026	18,779	+2.6%	4.9x	4,952	+11.0%	18.5x	0.62	+8.8%	30.5x
2027	22,880	+21.8%	4.0x	6,417	+29.6%	14.3x	0.82	+32.3%	23.0x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	18,779	−1.7%	−1.7%	−0.9%	0.62	−1.6%	−1.6%	−3.1%
2027	22,880	+3.0%	+3.0%	+9.6%	0.82	+3.8%	+3.8%	+10.8%
2028	–	–	–	–	–	–	–	–

Earnings surprises EPS beat in 3 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	4,128	4,194	4,139	4,269	4,007	4,269	4,378	4,554	4,441	4,804
Sales mean (mil)	3,854	4,214	4,285	4,150	4,189	4,314	4,333	4,725	4,327	4,680
Surprise	+7.1%	−0.5%	−3.4%	+2.9%	−4.3%	−1.0%	+1.0%	−3.6%	+2.6%	+2.7%
EPS reported	0.14	0.15	0.14	0.15	0.13	0.14	0.15	0.15	0.14	0.15
EPS mean	0.13	0.14	0.15	0.14	0.14	0.14	0.14	0.15	0.14	0.16
Surprise	+10.8%	+9.3%	−4.7%	+6.4%	−5.7%	−2.1%	+7.9%	+0.7%	+1.4%	−3.1%

Peer comparison Machinery, Tools, Heavy Vehicles, Trains & Ships

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
ATLKY Atlas Copco AB	89.9B	0.28x	15.7%	7.69x	30.5x	23.0x	18.5x	14.3x
FANUY Fanuc Corp	35.2B	−3.18x	19.4%	2.76x	16.2x	15.4x	15.1x	14.3x
KNYJF KONE Oyj	28.5B	−0.37x	8.7%	10.57x	24.8x	22.2x	13.7x	12.3x
ALFVF Alfa Laval AB (publ)	22.8B	0.89x	11.9%	4.52x	25.1x	21.5x	15.7x	13.5x
SCWO 374Water Inc	45M	–	−9,754.0%	15.07x	–	–	–	–
LASE Laser Photonics Corp	40M	–	−390.3%	−34.09x	–	–	–	–
Mean		−0.59x	−1,681.4%	1.09x	24.1x	20.5x	15.7x	13.6x
Median		−0.05x	10.3%	6.11x	25.0x	21.8x	15.4x	13.9x

Technical analysis

1M−9.4%
3M−10.0%
1Y+15.2%
3Y+50.1%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Atlas Copco AB, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	18,300	15,990	17,151	13,579	12,270	12,147
Cost of revenue	10,450	9,138	9,690	7,873	7,122	7,134
Gross profit	7,850	6,852	7,462	5,706	5,148	5,013
Selling, general & administrative expenses	3,098	2,650	2,821	2,133	2,027	2,036
Research & development	545	469	496	393	339	339
Depreciation/amortization	412	323	323	244	230	230
Interest expense (income), operating	101	−8.3	96.9	52.4	−47.3	44.3
Unusual expense (income)	12.4	11.2	4.0	16.3	14.2	25.9
Other operating expenses	−25.8	−45.4	36.2	−31.7	−20.7	7.5
Operating income	3,707	3,452	3,684	2,898	2,606	2,330
Net interest income (expense)	−44.2	−26.1	−59.0	−23.4	−32.3	−47.1
Gain (loss) on sale of assets	5.9	0.3	0.9	0.6	5.6	1.9
Other non-operating income (expense)	−8.7	−7.2	−6.4	11.5	10.2	6.5
Net income before taxes	3,660	3,419	3,620	2,887	2,590	2,292
Provision for taxes	788	724	833	630	584	492
Minority interest	−0.5	−1.1	−1.2	−0.5	−0.4	−0.5
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	2,872	2,694	2,785	2,256	2,006	1,799
Extraordinary items	–	–	–	–	–	–
Net income	2,872	2,694	2,785	2,256	2,006	1,799
EBIT, normalized	3,917	3,507	3,897	2,953	2,652	2,505
EBITDA, normalized	4,947	4,293	4,661	3,489	3,242	3,134
Basic EPS, normalized	0.57	0.59	0.56	0.47	–	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Atlas Copco AB, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	1,731	1,748	1,114	1,138	2,166	1,419
Receivables	4,622	4,123	4,401	3,837	3,282	3,023
Total inventory	2,898	2,624	2,909	2,615	1,969	1,637
Prepaid expenses	184	137	129	113	104	73.9
Other current assets	24.0	6.9	10.7	3.4	1.5	48.8
Total current assets	9,460	8,640	8,563	7,707	7,523	6,202
Property, plant & equipment	3,642	2,788	2,430	1,937	1,613	1,630
Goodwill	5,570	4,686	4,506	4,256	3,553	3,515
Intangibles	2,809	2,289	2,199	2,188	2,017	2,065
Long-term investments	88.5	82.2	94.5	98.6	109	118
Note receivable	31.6	16.2	19.2	21.0	21.8	29.0
Other long-term assets	407	362	334	347	284	241
Total assets	22,008	18,864	18,147	16,555	15,121	13,800
Liabilities
Accounts payable	1,782	1,519	1,767	1,839	1,677	1,364
Payable/accrued	–	–	–	–	–	–
Accrued expenses	1,361	1,143	1,098	952	905	805
Short-term debt	112	93.5	108	742	212	244
Current portion of long-term debt	592	185	164	465	229	118
Other current liabilities	2,243	2,073	2,248	1,907	1,491	1,299
Total current liabilities	6,088	5,013	5,385	5,905	4,514	3,830
Long-term debt	3,083	2,861	2,965	2,281	2,309	2,635
Minority interest	19.2	5.4	5.0	4.8	0.1	38.8
Other liabilities	838	699	708	680	816	818
Total liabilities	10,028	8,579	9,063	8,871	7,639	7,322
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	85.4	71.1	78.1	75.5	87.0	95.7
Additional paid-in capital	1,105	891	932	835	947	956
Retained earnings (accumulated deficit)	10,702	8,430	7,095	5,385	5,651	5,071
Treasury stock	–	–	–	–	–	–
Other equity	88.1	892	980	1,388	797	355
Total equity	11,980	10,285	9,084	7,684	7,482	6,478
Total liabilities & shareholders' equity	22,008	18,864	18,147	16,555	15,121	13,800

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Atlas Copco AB, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	3,708	3,452	3,684	2,903	2,606	2,331
Depreciation, depletion & amortization	1,036	795	771	608	605	632
Deferred taxes	–	–	–	–	–	–
Non-cash items	−136	−12.3	−41.8	−60.3	10.2	87.6
Changes in working capital	−1,068	−898	−1,624	−1,397	−660	−347
Cash from operations	3,540	3,337	2,790	2,054	2,561	2,703
Investing activities
Capital expenditures	−673	−545	−541	−483	−372	−340
Other investing cash flows	−1,243	−660	−391	−1,006	−306	−1,642
Cash from investing	−1,915	−1,205	−933	−1,490	−677	−1,983
Financing activities
Financing cash flow items	−7.0	47.8	−31.5	−2.3	−140	−35.9
Cash dividends paid	−1,588	−1,234	−1,113	−889	−983	−1,035
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−184	−248	−671	−517	−18.9	30.3
Cash from financing	−1,779	−1,435	−1,815	−1,408	−1,142	−1,041
Foreign exchange effects	−220	34.4	−78.2	100	69.4	−87.2
Net change in cash	−374	731	−36.5	−743	811	−408
Free cash flow	2,868	2,792	2,248	1,571	2,190	2,363

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.